At this point, you are already clear about it: you want to work with a Twitch streamer & are ready to spend. Now, how do you do it though?
First thing’s first: you need to prepare.
As a marketer you most likely know your metrics and can give “eyeballs” some sort of value,$1 or $1000, doesn’t matter. What matters is that you know the value of “eyeballs” to your business.
So sit down, do your math & use that as a compass while deciding on your budget.
Streamers don’t like email that much. Steamers are usually active on Discord or on platforms they use for new business opportunities (like Hypest Hive, yes). So, reaching out is covered: A) you find them on discord OR B) you find them on a platform like Hypest Hive C) you establish a telepathic connection.
Once you reach out, simply ask them any questions you might want to have answered and get a feeling of the person you will be working with. After all, they will represent your brand in some way or another.
In most cases, you will see that they either have already set up pricing options after having worked with different brands or their agents/ managers would already have that prepared anyways. In such cases, it’s obviously easier to agree on something as after all, they base their pricing on the value they provide & they can easily break that value down for you to understand.
We will get back to this but remember – communication is key.
TIP: Get to know their stats beforehand. See what I mean here.
How much do I pay the streamer?
You will be asking yourself this quite a bit, especially if you are new to influencer marketing in general.
It’s a tough one. Influencer marketing, in general, is still somewhat new and businesses either overpay influencers or the influencers sell themselves short. There are not many cases where it’s all perfect.
So what do you do?
- Ask your network
- Come up with pricing formulas (we’ll get into that)
- Ask the streamer (or their manager/agent)
- Haggle! (it’s likely they will haggle too)
While reading the bullet points you probably realized there is not a single ideal case. After all, this should be something everyone knows the worth of, right?
Yes & no.
Let’s go through the pricing formula example as it should be the most accurate way to do it. The most common and well known can be seen below.
(ACV)*(Minutes of sponsored content)*(.015)
ACV stands for average concurrent viewership, so the average amount of people watching live during any of their streams.
Minutes of sponsored content – you guessed it right, the minutes you are sponsoring. One hour sponsored content would equal to “60” in the formula.
The last number is a coefficient representing the size of the streamer, but let’s take the .015 one for simplicity’s sake.
So let’s say you got yourself a streamer with ACV of 2000, who will promote your services in an hour-long dedicated stream. This will cost you $1800.
Okay, so the formula is easy to use, sure. However, it becomes obsolete rather quickly.
Say, you want to have actual long term partnerships, OR you want to send the streamer you’re working with to a remote island, OR fly them to one of your offices on the other side of the world, OR you are negotiating with their representatives (agency) – the formula is obsolete, it doesn’t work anymore. There are too many factors at play & you just can’t calculate it (at least not yet).
*The formula is still a good starting point though!
How do we do it?
At Hypest Hive, we try to spend some time with each newly signed up content creator or agency that represents them. This way, we help them with pricing (yes, it’s equally difficult for them as well!).
This is also why on the platform you will see streamers with already well-defined pricing packages.
Pricing packages are simple to get & look something like this:
Of course, you can still go on and make a custom offer (see screenshot below).
We can say, that in most cases it takes a bit of communication to actually strike a deal. Yes, we’ve seen cases where someone literally signs up over a weekend and is already pushing a campaign on Monday. This is rarely the case though.
However, here’s a quick checklist we’ve seen bring people to the end goal:
- Connect with as many content creators as you can – you always need a plan B, C, etc.
- Communicate – use some time in your campaign preparation to talk thoroughly about everything with the influencer
- Keep them engaged – this is again about communication, but while you’re preparing everything on your end, keep the influencer engaged too. They might end up taking another offer if they’re not engaged with your brand
- Be concrete & professional – only give concrete offers and don’t change them along the way. It’s annoying for the influencer and it’s unprofessional. You will end up being a less desired sponsor.
- Negotiation should take place before the agreement – Never haggle and negotiate while influencers are working on your campaign, it will affect your reputation massively.
- Thank them and listen to them – once a campaign is done or being agreed upon, listen to what influencers have to say too. They know their audience much better than you & their audience is what you want at the end of the day!
Remember, it’s always better to enter a conversation with at least a draft offer. Also even if you choose a specific pre-defined bundle of services with concrete pricing, you need to know that depending on your product, you can include freebies in the package. After all, gamers also need amazing gear! Or great socks, or flashy shoes, or whatever else really!
P.S. When in doubt, just reach out to us via the live chat widget or email! We’re here to help. 🙂